GOP Senator Marco Rubio (FL) acknowledged in an interview with The Economist that his party’s massive tax cut signed into law by President Trump late last year may not be as beneficial to the American worker as Republicans are painting it to be.
The Florida senator, who voted for the GOP tax plan, criticized his party for believing that large corporate tax cuts would inevitably trickle down to American workers.
“There is still a lot of thinking on the right that if big corporations are happy, they’re going to take the money they’re saving and reinvest it in American workers,” Rubio tells the publication.
“In fact they bought back shares, a few gave out bonuses; there’s no evidence whatsoever that the money’s been massively poured back into the American worker.”
In a major tax speech last year, Trump promised that his tax cuts would “unleash the American worker; they will tear down the restraints on discovery, innovation, and creation; and they will restore the hopes and dreams of the American family.”
Rubio also acknowledged that workers are seeing their jobs disappear thanks to automation and technology, something that neither the GOP’s tax cut plan nor Trump’s protectionism will do much to curb.
“I have no problem with bringing back American car-manufacturing facilities, but, whether they’re American robots or Mexican robots, they’re going to be highly automated,” he explains. “My relatives are firefighters and nurses and teachers and electricians. These are people who are not all that excited about the new economy.”